Interesting take. I don't like it. 

Perhaps because I like saying overrated/underrated.

But also because overrated/underrated is a quick way to provide information. "Forecasting is underrated by the population at large" is much easier to think of than "forecasting is probably rated 4/10 by the population at large and should be rated 6/10"

Over/underrated requires about 3 mental queries, "Is it better or worse than my ingroup thinks" "Is it better or worse than my ingroup thinks?" "Am I gonna have to be clear about what I mean?"

Scoring the current and desired status of something requires about 20 queries "Is 4 fair?" "Is 5 fair" "What axis am I rating on?" "Popularity?" "If I score it a 4 will people think I'm crazy?"...

Like in some sense your right that % forecasts are more useful than "More likely/less likely" and sizes are better than "bigger smaller" but when dealing with intangibles like status I think it's pretty costly to calculate some status number, so I do the cheaper thing.

Also would you prefer people used over/underrated less or would you prefer the people who use over/underrated spoke less? Because I would guess that some chunk of those 50ish karma are from people who don't like the vibe rather than some epistemic thing. And if that's the case, I think we should have a different discussion.

I guess I think that might come from a frustration around jargon or rationalists in general. And I'm pretty happy to try and broaden my answer from over/underrated - just as I would if someone asked me how big a star was and I said "bigger than an elephant". But it's worth noting it's a bandwidth thing and often used because giving exact sizes in status is hard. Perhaps we shouldn't have numbers and words for it, but we don't.